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‘Buildings Insurance for Landlord’

Buildings insurance for landlords helps you cover against damage to your building ‘bricks & mortar’ rental property (or multi properties) plus any fixtures or fittings for your tenants in 2024.

Accidents & natural events can happen, so you the need peace of mind coverage for landlords buildings and contents.

Do Landlords need insurance?

Do Landlords need insurance? Landlord insurance in Uk may not be a legal requirement. For example, you have no mortgage on the property. Or you rent out a leasehold property in a block of flats, and the block freeholder advises they have their own buildings insurance.

However, experience will tell you it is strongly recommended to have ‘insurance for landlords uk’ cover, if you let or lease out your property. Remember, it is still your bricks & mortar property – even if you don’t live there. Your tenants are your income, so don’t risk it.

Domestic home building & contents insurance policies are also likely to be invalid, if you let a property out that you own. If you try to pretend that you live there, rather than your tenants, then your insurers are more than likely to refuse & make any claim declined ie; you are wasting your money.

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‘What Landlords Insurance do I need’?

Now that’s a different question. ‘What landlords insurance do I need‘ is really down to you (if you have no mortgage on your rental property). The higher levels of cover and features are often included on more comprehensive building insurance for landlords.

Any budget quote for landlords insurance are often as they sound, and as always you get what you pay for on insurance. This could mean a much higher excess eg; £500 per claim rather than say £50. Alternatively, you must pay for optional extras to boost your cover on any cheap buildings insurance for landlords.

• Landlords buildings insurance for bricks & mortar
• This means cover for all your rental property ie; roof, walls, floors plus any property extensions 
• Fire, flood & theft
• Fixtures & fitted items like bathrooms & kitchens
• Carpets, rugs, curtains & furniture that belong to you
• Boiler breakdown
• Property owners liability
• If any 3’rd party suffers an accident, injury or damage on your rental property
• Legal fees if you are taken to court and it’s deemed to be your fault
• Employers liability
• If any employees in your rental property have any injuries or death due to your negligence
• Unoccupied property
• Vacant periods in between tenants 
• Alternative accommodation for tenants due to say fire or floods
• Rent protection
• Landlord & tenant rental cover if you can’t rent the property due to fire, flood, theft damage 
• Accidental or malicious damage by tenants, guests & any pets
• Change of lock expenses
• Rent arrears

Generally a landlords buildings and contents insurance policy doesn’t include your tenants’ belongings (they may need to insure themselves seperately)

‘Landlord Emergency Home Cover’

‘Landlord emergency home cover‘ offers immediate help & assistance to you from professional tradesmen. When you & your tenants are in need, the Insurers can offer you direct access to a variety of qualified trades.

Emergency cover for landlords can help you deal with a whole range of emergency incidents to ensure your tenants can continue to occupy your rental property eg; loss of power, boiler breakdowns, broken windows, blocked sinks or toilets. 

Comprehensive buildings insurance for landlords may either include this as standard or optional extra ‘home emergency landlord cover’.

Typically it may offer up to £1,000 (inc VAT) to help cover any repair costs, parts & materials, labour plus call-out fees. As Landlords you may have to cover anything above this amount. Emergency cover for landlords is valuable if you do not immediate access to any trades 24/7.

• Avoids long term damage to your property
• Secures your property against risk from theft
• Removes any health risk to your tenants

Note: Any occasional claims for Landlord emergency home cover usually does not count against your overall landlords insurance cost at renewal. eg; if there’s a leak, then this is not considered to be a claim and so does not need to be advised. 

However, any repairs to or replacement of any items damaged by the leak would then count as a claim.

‘Buildings Insurance for Landlord’ | ‘Buy to Let Insurance’

If you do have a buy to let mortgage or equivalent, then having buy to let insurance for landlords will likely be a legal requirement from your buy to let lenders.

A typical buy to let insurance policy should cover these issues…

• Buildings insurance for landlords to comply with your buy to let lenders requirements
• Contents cover (not obligatory but advisory)
• Liability legal cover for employers or public
• Loss of rental income
• Alternative accommodation for tenants
• Landlords Emergency Cover
• Cover perils such as flood, fire, burst pipes, storms

Insurers may offer either a single buy to let insurance plan or if you own several rentals, multi-property cover making your administration easier to manage.

Landlords Insurance Multiple Properties

Landlords insurance multiple properties is your easiest way to manage your rental portfolio. These multi property landlord insurance in uk can include ability to.

• Add rental properties at any time
• One renewal date for your whole property portfolio
• Loss of rental cover for a minimum period of 12 months after a loss claim
• Organising alternative accommodation
• Specialist loss adjusters for larger claims
• Rebuilding costs for landlords insurance multiple properties
• Liability Insurance – employers & public
• Landlord Home emergencies
• Fixtures and Fittings Cover
• Cover perils such as floods, fire, burst pipes & storms

Ability to mix & match different buildings insurance landlord property types (commercial and/or residential) under one multi-property landlord insurance policy.

Note; you will however need to advise the various individual rebuild sums assured costs across your multi-property landlord insurance cover. This figure will be to reconstruct & restore your property should it become completely destroyed and include VAT.

Insurance for Rental Property | ‘Insure Rental Property’

So we have discussed the importance of having Insurance for Rental Property as a landlord. However, what about if you are a tenant needing insurance for a rental property?

We would always recommend you talk to your Landlord first to check what is included in their landlords insurance before you wish to insure rental property. However, as tenants be careful if you feel you could be duplicating cover and so paying for unnecessary benefits on your rental property insurance.

Although your landlord will hopefully take care of the buildings insurance, they may decide not to insure any contents and fixture & fittings for cost reasons (even if they rented the place as fully furnished). As a tenant, do not assume anything to insure rental property.

Whilst it may not be any legal requirement to have insurance for a rental property, contents rental property insurance could help you to protect all your personal belongings inside. It may give you peace of mind whilst you are renting.

For example, if there was a fire in your rental property.

• Where are you now going to live interim – if it takes say 3 months to repair and fix up the rental property?
• Does their landlord’s insurance policy help cover this alternative accommodation costs?
• What about all your personal belongings that have been lost in the fire?
• Or your belongings that have not been lost to fire damage – where are they now being stored & at what cost?

Rental property insurance covers items like all your personal furniture, gadgets, appliances, clothing & money. It should also include protection against accidental damage to your landlord’s fixtures & fittings eg; you have a few friends over & unfortunately spill drink onto the carpets, you then don’t lose your rental deposit.

Check policy wordings if due to the pandemic 2020’s, you now use your home also as a place of work. Your contents used solely for your business may need to be specially covered eg; work computer equipment. 

‘Martin Lewis Landlords Insurance’ for Buildings | 5 Top Tips

Many people follow Martin Lewis money saving expert advice, so here are Martin Lewis Landlords Insurance 5 top tips.

1. It is NOT a legal requirement but without specific ‘Buildings Insurance for Landlord’ cover you may not be covered under a domestic home only insurance if you have rental tenants
2. Landlords building insurance is just a souped-up home insurance, covering all the usual domestic home items plus tenant issues
3. Insurers will ask what your rental tenants do for a living (and so may charge more if they are students or on uk housing benefit)
4. You will need extra landlords insurance cover if your rental property is left vacant for more than 30 days
5. You MUST provide both smoke & carbon monoxide alarms in your rental property (if not, you may invalidate your policy)

These 5 Martin Lewis best landlord insurance tips may naturally change over time as any legal property rules are updated.

Claiming on your landlord insurance Martin Lewis says should be fairly straightforward (if you have read & understand the various policy terms & excesses).

Then on landlord insurance money saving expert says you should not be in for any nasty shocks.

But in the event you may need to make a claim, on landlords insurance Martin Lewis says take 2 simple steps…

• Submit your insurance claim as soon as possible
• If it involves a theft or any serious damage to your property done by an unruly tenant (then notify the police also)

‘Quote for Landlords Insurance’

To get a ‘quote for landlords insurance‘ you will need to submit various personal / business information.

• Rental property & construction details
• Details of the tenants you are renting out too
• Property rebuild value or values for multi properties
• The age & construction eg; brick & tile roof
• Any adverse or past claims history

Note: any underwritten insurance quote for landlords insurance will always rely on your correct & honest disclosure. However, insurers do share your claims information as part of their efforts to help combat fraud & keep premiums affordable.

We deal with many leading providers, if you are now comparing yourself various direct brand options online like ‘lv landlords insurance’, ‘aviva landlord insurance’ or ‘admiral landlord insurance’.

Unsure how to choose the right landlord buildings insurance policy? As insurance brokers, we can help you arrange your ideal cover.

Landlords Life Insurance

Have you also considered Landlords life insurance for your mortgage protection as well as your Buildings Insurance for Landlord?

Are you property mortgages interest only or repayment? Or are they a mixture of both?

Either way, as whole of market brokers for life insurance, we are well placed to help you out with some mortgage lifecover & critical illness or income protection. Compare broker only deals here.

Conclusion | Buildings Insurance for Landlord

Life can often interrupt the best laid landlords business plans.

Plans impacted by sudden rental property issues, causing your tenants & yourself unexpected problems. Plans that can all be affected by an accident, fire, water damage or theft. Contact us for a quote for landlords insurance | broker help & friendly professional advice.

Sorting out your ideal insurance cover may seem a difficult task, so don’t do it alone. It’s a good idea to get professional advice from an expert – we’re here to help.

‘Buildings Insurance for Landlord’ Article by Martyn Spencer Financial Adviser (2024)

For reassurance re health for men & women average cost – we review many of the best brands re ‘Insurance for Landlords UK’ & Life Insurance in UK (inc NI)